Non-fungible token (NFT) marketplace Magic Eden said that it would refund all users affected by an exploit that involved the sale of fake NFTs that were passed off as being part of verified collections.
On the morning of January 4 (PT time), the marketplace team saw “a handful” of reports saying that users were being shown unverified NFTs as part of verified collections on Magic Eden, said the announcement.
The incident affected popular collections such as ABC and y00ts. ABC creator HGE described this as ‘a massive exploit’ affecting high-value NFTs.
